Zee Entertainment shares dip 4% after Delhi HC dismisses company appeal

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Zee Entertainment Enterprises shares declined 4 percent intraday on December 22 after Delhi High Court dismissed the plea of the company seeking stay on IndusInd Bank’s demand of Rs 83 crore.

Delhi High Court allowed IndusInd Bank to raise the demand of Rs 83 crore against Zee for Siti default, reported CNBC-TV18.

IndusInd Bank has not restrained from writing to exchanges, rating companies on default by Siti, Zee, it added.

At 12:54 hrs Zee Entertainment Enterprises was quoting at Rs 207, down Rs 5.65, or 2.66 percent on the BSE.

The share touched its 52-week high Rs 304.70 and 52-week low Rs 114 on 27 December, 2019 and 25 March, 2020, respectively.

Currently, it is trading 32.06 percent below its 52-week high and 81.58 percent above its 52-week low.